You must read previous articles and watch the
given chart carefully to understand this article completely.
For 15 April 2014: -
On 11 April 2014, FII Sold INR 362.29 crs and
DII Bought INR 364.92 crs
No doubt that it has digested the pain of
global weakness and stand well. Now, we have Infosys figures coming today
before market opening. Infosys ADR jumped nearly 5% at NASDAQ last night. This might
be buying by well-informed traders who took position before result. It is very
likely that Infosys will deliver something which can boost stock price.
VIX comes in the range of 29-30 levels. Big
funds like FIIs might have hedge their position using VIX. It has odd behavior
since 6400 levels of Nifty. I would not be surprised if it tested 30 on dot or
might cross also.
Indian market has no impact of global
weakness in last few weeks. Now, we need to see the reactions towards quarterly
earnings. Along with Infosys, we will have quarterly numbers of TCS, HCL, WIPRO
and Reliance too coming this week. We will have WPI and CPI number coming
today. We may not have any negative impact of negative IIP number which came on
Friday. I feel that market night not remember negatives in this mood.
For today’s session, Nifty is likely to open
little higher nearly 6800 levels. There is no point to short as long as it
holds 6750-6740 levels. Higher levels will be determined by Infosys number and
its guidance. 6820 may be challenged again.
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Strategy for Nifty April future – in the name of
correction, even 50-60 points of Nifty remains big. I avoided forwarding short
on weekend. Well, we have a very short week. Nifty April Future may opening
higher above 6800 levels and then it will face resistance at 6830 or at 6860+
levels. So far, nothing looks bad. Only surprises can drag market lower from
higher levels. I will take call only after knee-jerk reaction of Infosys
number. Still, trading index is not my choice.
S&P 500 (USA)
– it
found support at 1815 but I still feel that fall has not done yet. Yesterday’s
bounce may be only an intermediate bounce. We may see some more higher levels
today like 1840 but it can sold at higher levels. I still say, as long as it is
below 1840-1842 levels, it can fall again to break 1800 levels in the days to
come. Take a note that US market is trading below 50 days moving average after
a long time. 18001798 may be decisive support. If that breaks then we will see
bright possibility for hitting 1740 too. It may happen sooner or later.
